British insurer Pension Corp. has quintupled its allocation to hedge funds and private equity as it seeks to diversify its £3.5 billion portfolio.
The firm, which insures pension liabilities, has boosted its alternative investments to £100 million, Reuters reports. Pension Corp. first invested in hedge funds and private equity funds two years ago, putting £20 million into the asset classes.
And the insurer isn’t stopping there, having set a 10% allocation to hedge funds and p.e., or £350 million.
Pension Corp. is also making a big move into property, allocating its first £100 million to the asset class.